The well is located around 20km west of Statoil’s Aasta Hansteen field, which is planned for production start-up in 2017.
Drilled using the Transocean Spitsbergen rig, the well 6706/11-2 encountered around 70m gas column in the Nise Formation.
The company estimates the size of the discovery to be 1 – 3 billion standard cubic metres (Sm³) of recoverable gas.
The Gymir prospect is expected to host up to 19 million barrels of recoverable oil equivalent.
The Gymir discovery, along with previous discoveries including Roald Rygg and Snefrid Nord, will be evaluated for future tie-in to the Aasta Hansteen facilities, Statoil said.
Statoil Norwegian and Barents Sea exploration vice-president Dan Tuppen said: "Our 2015 exploration campaign around Aasta Hansteen has proven an upside potential in the area.
"The estimated total volumes in the three discoveries, Snefrid Nord, Roald Rygg and Gymir, amount to 75-120 million barrels of recoverable oil equivalent, corresponding to about one-third of the Aasta Hansteen recoverable volumes."
Statoil Petroleum operates the PL602 with 42.5% stake, while other consortium partners Wintershall Norge and Atlantic Petroleum Norge have 10% and 7.5%. Petoro and Centrica Resources (Norge) hold 20% each in the license.
